Expressing his
views at the recently held World Economic Forum’s (WEF) India Summit (organized
by the World Economic Forum and Confederation of Indian Industry (CII) in
Mumbai) Mukesh Ambani, chairman of India’s largest private sector company
Reliance Industries Limited (RIL), stated that the UPA government needs to push
policy reforms in critical areas of functioning and incorporate quick
decision-making skills to sail through the current turmoil economic .

Mukesh Ambani’s
views were further supported by leading industrialists and businesspersons of
the country who vociferously called upon the government to initiate faster
growth programs that, congruently, take account of equitable growth and social
justice in mind.

At present,
India is facing the brutal brunt of a highly volatile economy. Rising inflation
and the unhurried approach of the government to control it have driven
investors - domestic and foreign - and entrepreneurs away from the
once-admirable prospect of flourishing India. While the government stands to
face a eye of rebuke, industrialists and business leaders including Mukesh
Ambani are optimistic that things can turn around, given the government
tightens its loose ends. Ambani said, “We need to get a minimum agreement
saying at the end of the day we are working for all the people and we have to
have a pathway to move towards 21st century governance.” His views underlined
the need to have in place a government that acts more as a facilitator rather
than as the mover of economic growth.

Reliance chairman also
opined that at present, India is need of dynamic governance, composed of young
leaders as “leadership reflects our demographics”. He emphasized that in spite
of the grim situation the world is facing, India is at a stage where it is
ready to take-off on the back of a young population and high-level of entrepreneurship.

While the
government lay in acceptance of the facts of its unruly conduct, it underscored
the need to include with the suggested policy reforms elements of sustainable
and ecological growth.